Stocks Fall on Friday After Strong Jobs Report

The stock market tumbled on Friday, as latest government employment data concerned investors that the central bank might continue increasing rates.

The U.S. economy reported additional 517,000 jobs last month, significantly higher than estimates of 187,000.

Overall, S&P 500 declined 1.0% to 4,136, while NASDAQ fell 1.6% to 12,007.

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Chart of the Day

Our chart of the day is the one-year chart of American Express (AXP). The stock popped after management gave a bullish outlook for this year. Analysts then upped 2023 EPS estimates from $10.67 to $12.63

American Express is a globally integrated payments company in providing credit and charge cards to individuals and businesses with high credit scores.

AXP is in the radar for the Conservative Portfolio.

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